GE Healthcare officially launched the Edison AI platform in Shanghai, China at its Digital Ecosystem Forum event. GE also signed a Memorandum of Understanding (MoU) of strategic partnership with five local software development companies: Shukun Technology, Yizhun Medical AI, YITU Technology, 12Sigma Technologies and Biomind. Under the MoU, GE will cooperate with the five software vendors to develop the platform's applications in China. GE Healthcare's Edison platform was first introduced at last year's Radiological Society of North America annual meeting in Chicago in November. The platform is touted as a way to help hospitals derive more value from their technology.
Roughly 600,000 people in China die from lung cancer every year. Already the leading cause of death in the pollution-choked and chain-smoking-prone nation, the incidence of lung cancer among China's citizens is actually going to increase to 800,000 cases per year by 2020. The situation has gotten bad enough that China's state media has not only been forced to report on the spread of cancer in the country, but also lay the blame squarely at the feet of the nation's runaway pollution problem. The issue is compounded by a lack of quality healthcare in much of the country, which means that cancers often go undetected until it's too late. For Chen Kuan, the chief executive and founder of Infervision, a Beijing-based company using machine learning and computer vision to help diagnose cancers, the problem isn't just academic.
In an attempt to make medical diagnoses easier and help both patients and doctors, Chinese search engine company Baidu has announced the launch of Melody, a medical assistant chatbot powered by artificial intelligence (AI). Reported on by VentureBeat, Melody can be found in Baidu's existing Baidu Doctor app for Android and iOS where she will collect medical information from patients before passing it on to doctors. The chatbot has been developed to ask questions on important health factors such as age and symptoms, before passing the answers on to doctors in an easy-to-use form. Doctors can then proceed with their diagnosis and respond to patients, reducing the amount of time that patients and medical professionals spend exchanging basic information. To make sure information is accurate, Melody only sends responses on behalf of doctors after the doctors have verified it, with Baidu chief scientist Andrew Ng commenting in an interview with VentureBeat that, "It's not our role to diagnose -- it's the doctors' role to diagnose.
HONG KONG, July 18 (Reuters Breakingviews) - Forget autonomous driving: The latest digital buzzword is medtech. Investors at last week's annual RISE technology conference in Hong Kong talked up a coming healthcare artificial-intelligence revolution, and the hype is as palpable in Silicon Valley. Chinese firms are well positioned to take the lead. Biometric and genome data - everything from blood pressure readings to tissue samples and DNA - are transforming the industry, from the way pharmaceutical firms discover drugs to how doctors diagnose patients. The hunt is on for better, and cheaper, treatments.
Blockchain may have been the obvious choice when one considers the subcategory of fintech that might gain traction this year, but we should have expected that the rise of a more reliable ledger system would pave the way to the rise of companies that would be able to utilise information gleaned from said ledger. Either through newly collected information or utilising data banks that have been sitting idly in data caches of various big corporations, artificial intelligence (AI) has risen and may pave the way for the future of fintech. McKinsey estimates that AI could potentially create between US$3.5 trillion and US$5.8 trillion in value annually across nine business functions in 19 industries. In Asia, Hong Kong's AI sector is getting a slice of a HK$50 billion of budget 2019, and the Monetary Authority of Singapore has a standing US$27 million AI grant named AIDA furthering the island nation's drive into artificial intelligence. With the world waking up to the scene, we have compiled a list of AI companies to watch that have a stake in fintech.